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COWORKING SPACE COULD TRIPLE FROM CURRENT SHARE

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Coworking space is on the rise in major cities across the U.S. according to a recent article on GlobeSt.com. While the industry currently only accounts for a small portion of overall office inventory, there is room for rapid expansion, particularly outside of markets like Manhattan, L.A., San Francisco, Chicago, D.C. and Boston that are currently home to the majority of the inventory.

“Based on current near-term projections, coworking space could easily triple from its current share in gateway markets over the next decade,” said Revathi Greenwood, Cushman & Wakefield head of Americas Research to GlobeSt. “Total inventory could increase to over 5% of office space in many urban markets and as high as 10% in some markets.”

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